Despite TurmOIL Stocks Stage Furious Last-Hour Comeback
The Fed's apparent new communication policy (as the rest of the world's markets and policy-makers try to force its hand)...
This has never happened before (even with the panic buying)... The S&P 500 is down 6.5% year-to-date - that is officially the worst start to a year ever...
The gaping truth of The Fed policy error is now being exposed in tumbling rate-hike odds... March odds down to 36.8% (from over 55% a week ago)
As Bonds & Bullion dramatically outperform stocks post-FOMC...
* * *
On the day, it was ridiculous - here are futures to show the swings...
And in cash - the panic-buying melt-up faded into the very last few minutes...
Dow screams 200 points higher in minutes... just because...
All Yen all the time... (as stocks decoupled from oil)
It appears Stocks (algos) were playing catch up to the China-selling-based higher Treasury yields...
NOTE: This could have been a disaster for Risk-Parity funds (Bonds and Stocks down hard) - beware the "bullishness" of China selling Treasuries
Before the epic melt-up buying panic, The Nasdaq is down 8 days in a row - has not had one green day in 2016 - this is the longest losing streak since May 2012...
Credit wasn't buying the ramp...
Plenty of momentum stocks have been crushed in recent days but Gunmakers appear to be suffering as The Obama administration admits its done all it can...
Financial stocks have collapsed (the worst start to a year ever for XLF) - just as we said they would - to their less exuberant credit market levels...
Most worrying is the spike in the TED Spread - a topic we have been warning about for 2 months - and its implications of systemic risk concerns....
As Citi and Goldman are seeing their credit risk surge the most...
Treasury yields rose on the day - as China selling to support Yuan trumped any safety bid from carry unwinds...
FX markets were very active overnight in Asia and even the majors were swinging violkently as The USD Index rose 0.4% on the day... CAD plunged to new lows as crude tumbled...
With Offshore Yuan surging by the most on record...
With the CNH-CNY almost inverted...
Commodites were all lower as Yuan and USD rallied (but crude and copper were worst)
With WTI Crude collapsing to a $30 handle - its lowest in 12 years following weak China data and MS report...
And Copper crushed back under $2 as hopes for further China stimulus are rebuked...
Charts: Bloomberg
Bonus Chart: Oddly causative correlation of the day... (why oil dumped, and Yuan pumped)...
(13 votes)
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Can they stick with a consistent narrative please? Stop telling me China tanking is what is causing our markets to drop. Stop telling me Oil dropping is why the DJ was down.
So China Tanks & oil drops almost 6% and the Dow goes up? This market is more confusing than Janet Yellen jerking her nuts off.
Yeah, I just made you a picture Janet playing with her balls....I am sorry for that.....
Wheee! Roller coaster are fun!
Until you're on the downhill and you realize the air brakes don't work.
PPT right on schedule just around 3:30pm as usual.
fucking douchebags
Just trying to make it easier for the day-traders. They can sleep in until around 2:30 PM, turn on the PCs at about 3 PM, and be primed for the pump. Done for the day by 4PM with a little luck, then off to the clubs to act like some rapeugee.
"Golden years, Gold, whop, whop, whop" RIP DB :(
"This has never happened before (even with the panic buying)... The S&P 500 is down 6.5% year-to-date - that is officially the worst start to a year ever..."
And this with life support coming fast and furious from every Mr. Wizard Central Banker on Earth.
Ain't free markets great !
Dow screams 200 points higher in minutes... just because...
You can ignore reality but you cannot ignore the consequences of reality.
3:30ramp it all you want but your just window dressing a fully burning back office. Commodities have been telling us that for over 12 months.
different pattern today. 2Pm pump 3:30ish semi dump
I just feel all warm and fuzzy when I see the barfing clown!
I am not one to pimp my blog here, as I consider it poor form, but today I wrote about the move from 3:17 to 3:38 pm ET, when the Dow went for a 182-point mash-up.
Just published:
http://moneydaily.blogspot.com/2016/01/perception-trumps-reality-and-why...
Good post
Thanks, RF. Now I know why people try to pimp their blogs here. I got a tremendous rush of traffic. Since I still maintain that pimping your blog on ZH or anywhere is not cool, I think if I have something worthwhile to add, I may do it again.
A note to serial blog-pimpers (I'm talking to you, brucewilds), if it's not relevant, don't do it. You'll only piss people off.
It was a concise little article and many folks other than the denizens of ZH should read it. Those poor souls steeped in the Wall Street bidness are goners anyhow, so screw them. I've been a dealer of coins and stamps and have had an eBay presence since 2001, with nice results. You are right about finding a line of honorable work other than the Wall Street casino. The only caveat I'd add is that one should become expert in the area of pursuit. Scammers are not found on Wall Street alone!
The Exchange Stabilization Committee can create as many electronic dollars as necessary to prop up the markets.
They will stop only when ordered to stop.
I guess the lower the prices, the easier it is for them.
Having read this bullshit article.....
"Nothing Is Moving," Baltic Dry Crashes As Insiders Warn "Commerce Has Come To A Halt"I don't think I will ever belive anything published on this site again!!!!!
So, you believe everything you read at other sites?
More importantly, what is the basis for your criticism? (The map links in that article for vessel traffic - updated in real time - are quite interesting, BTW.)
Has the market ever made sense? Printing fiat currency out of future debt demand by a Treasury aleready shrouded in debt, how was that ever supposed to increase overall growth? How is blowing up skyscrapers and dumping gravel a la broken-window fallacy going to help GDP? How is buying toxic Greek debt going to help a poverty stricken Nation-State escape depression?
The narative is and has always been one of insanity and desperation. Why would that change now?
These things you call markets are highly illogical Captain
Some would say that today the market reacted to being OVERSOLD...OVERSOLD my A$$, the market is 8 years OVERBOUGHT!!
Lesson of today: this is not a short-and-hold market anymore. The crazy 30 handle rise in ES futures overnight while China was turmoiling and WTI plunging should have been a warning to short sellers.
Regardless, this bitch market is harder to trade than having a threesome with janet yellon and billary.
It is better to close your eyes, turn around and run as fast as you can to escape.
And China based selling pushing yields higher? Zero gibberish.
Options expiration week, like always. They do as they please. Who cares if it is criminal.
Shyster game. Wish it all went to zero, like 99% loss for them.
to the PPT
You're the best around.
https://www.youtube.com/watch?v=oomCIXGzsR0&list=PLEB62A95CB8D0705C&inde...
Try to be best
'cause you're only a man
and a man's gotta' learn to take it
try to believe
when the going gets rough (When the things get
difficult)
that you gotta hang tough to make it (to be strong)
History repeats itself
try and you'll succeed
never doubt that you're the one
and you can have your dream
you're the best around
nothing is gonna ever keep you down
you're the best around
nothing is gonna ever keep you down
you're the best around
nothing is gonna ever keep you down
Fight till the end
'Cause your life will depend
On the strength that you have inside you
Gotta be proud
standing out in the crowd
when they odds of the game defy you (When most of the
things in the game are against you)
try your best to win them all
and one day time will tell
when you're the one that's standing there
you've reached the final bell
you're the best around
nothing is gonna ever keep you down
you're the best around
nothing is gonna ever bring you down
you're the best around
nothing is gonna ever keep you down
(instrumental)
you're the best around
nothing is gonna ever keep you down
you're the best around
nothing is gonna ever keep you down
Fight till you drop
Never stop
You can't give up until you win sometime
(Fight!)
You're the best in town
(Fight!)
Listen to that sound
A little bit of all you've got
never bring you down!
http://i0.kym-cdn.com/photos/images/original/000/363/662/1d4.gif
Bernanke Kai!
The PPT lives!
I guess this would be expensive to maintain if they weren't just printing money.
The moar they print the less bang for their buck a la diminishing returns of the dollar. Keynesian economics rule number one is to "weaken the currency to increase exports". The problem here lies with the fact that once the currency is weakened, the next round of weakening does less for increasing demand of exports because the inflated currency actually buys less and less. Therefor the purchasing power decreases to such a power that it litterally has a halflife worth less than the input value.
Has anyone anywhere ever in their lives witnessed a flogging of a dead horse of this magnitude?
Witness the fitness
The PPT liveth
One hope, one quest
Wish we had all their names.
AT THIS POINT IT DOESNT EVEN MAKE ANY SENSE TALKING ABOUT THESE FUCKING COMPLETELY RIGGED, MANIPULATED,AND UTTERLY WORTHLESS MARKETS THAT HAVE FUCKING NOTHING TO DO WITH THE TRUE STATE OF THIS BANKRUPTED, MOTHER FUCKING CORRUPTED AMERIDUMB ROTTEN BANANA REPUBLIC…
fuck all of u on wall st. and DEATH TO THE FUCKING MONEYCHANGERS.
^^^^^^^^^^^^^^^^^^^^^^What he fucking said x100
ps: to all the haters out there dont trip on me anymore cause as of today I WILL BE CAPPING OUT - MOTHER FUCKERS.....
KAISER. CAPPING OUT IS GOOD FOR YOU, LIKE A PRIMAL SCREAM. I LET ONE OUT EARLIER TODAY. FELT GOOOOOOOOOOD!
@ Kaiser,
You've earned it brother. CAP THE FUCK OUT.
MSFT was down $00.03.
Prolly because it's quarterly employee shares being sold by employees for cash. Happens every 3 months...
Wow, I am thinking maybe Kaiser doesn't love his enemies. Jesus would be so let down.
Tell us how you really feel about it.
VIX down 10+%, S&P up 1 point. Doesn't get much better than that for the bears.
PPT for life!
in prison.
Cannot go down every day, can it?
I see a red tape and I want to paint it green.....
From "Paint it Green"
Copyright 2015 by Janet and the Feds
Available on Fuck the Proles Records
+1
Green myst be the new black.